Paragraph 5

In section 48 of the Finance Act 1949^f1—

(a)

in subsection (1), after “Bank of England” where it first appears there shall be inserted “or the Operator of any relevant system”;

(b)

in the proviso to subsection (1)—

(i)

for “the Bank of England shall not” there shall be substituted “neither the Bank of England nor any such Operator shall”; and

(ii)

for “to the Bank” there shall be substituted “to the Bank, or to that Operator as the case may be,”;

(c)

in subsection (2), after “Bank of England” there shall be inserted “or the Operator, as the case may be,”; and

(d)

after subsection (4) the following subsection shall be added—

“(5)

In this section, “Operator” and “relevant system” have the same meanings as they have in the Uncertificated Securities Regulations 2001.”.

Annotations